Toronto, Ontario - Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the 'Company' or 'Goliath') is pleased to report the third and last batch of assay results of the 2022 drill campaign on the Surebet discovery at its 100% controlled Golddigger Property (the 'Property') located in the Golden Triangle, B.C.
Twenty-two (22) out of 23 newly reported holes from within the 1.6 square kilometer area on the Surebet Zone intersected broad high-grade intervals of gold-silver mineralization demonstrating the continuity of this newly discovered large gold system. The last batch of assays included hole GD-22-100 collared from Pad 13 (650 meters step-out to the West from Surebet Main) which intersected broad high-grade gold mineralization containing 13.53 gpt AuEq (12.10 gpt Au and 54.13 gpt Ag) over 11.00 meters* including 24.56 gpt AuEq (21.98 gpt Au and 97.94 gpt Ag) over 6.00 meters*.
This hole measures 148.87 gram(AuEq) x meters and is in the top 3 holes of 2022 (best hole was GD22-58 with 272.80 gram(AuEq) x meters from the South Cliff Stepout Pad). Based on drill results from 56 holes from 2021 and 2022 within the 1.6 square kilometer Surebet Zone, the main mineralized horizon has an average grade of 6.31 gpt AuEq (4.45 gpt Au and 110.70 gpt Ag) and an average width of 6.88 meters. Assays to date for 89 out of 92 drill holes collared within the 1.6 square kilometer area have returned significant gold-silver intervals. Assays have confirmed that the Surebet Zone covers at least 1.6 square kilometers demarked by an area that spans from North Rubble to Pad 1, Pad 11 and Pad A and remains open.
'Results from Goliath's 2022 drill season have proved to be similarly strong to those from 2021,' commented Quinton Hennigh, technical and geologic director of Crescat Capital, a strategic shareholder of Goliath. 'It appears that there is a consistently high-grade area lighting up along the Surebet Zone in proximity to the major northeast trending fault cutting this area. Although the nature of this structure was previously unknown, drill results from 2022 indicate that it is indeed a feeder zone for the overall Surebet mineralizing system. Importantly, there appear to be multiple stacked mineralized structures here that could potentially host a sizeable tonnage of high-grade mineralization. It is also very encouraging to see Goliath make multiple new discoveries of high-grade vein mineralization across the Golddigger property in 2022.
Goliath now has multiple high-grade areas in which to focus its upcoming 2023 drill program.' Roger Rosmus, Founder and CEO of Goliath Resources, states: 'The final set of assay results from the 2022 drill season on Surebet once again confirms the discovery of a major gold-silver mineralized system on the Golddigger property that remains open located in a geopolitical safe and mining friendly jurisdiction. Of all the holes drilled within the 1.6 km2 Surebet Zone, 89 out of 92 have intersected significant widths and grades of gold mineralization confirmed by the assay results. Based on the excellent results seen in both grade and width, this discovery is quickly evolving into a new world-class high-grade gold discovery that has already and continues to attract the interest of several miners and institutions alike. We are looking forward to planning the 2023 drill program and continue to bring value to our share holders by unlocking the full potential of Surebet as well as multiple new discoveries on the Golddigger property.'
Drill highlights from the third and last set of results from the 2022 drill campaign include: hole GD-22-100 collared from Pad 13 (650 meters step-out to the West from Surebet Main) which intersected high-grade gold mineralization containing 13.53 gpt AuEq (12.10 gpt Au and 54.13 gpt Ag) over 11.00 meters* including 24.56 gpt AuEq (21.98 gpt Au and 97.94 gpt Ag) over 6.00 meters*; hole GD-22-104 collared from W of NE Fault Pad (780 meters step-out to the South from Surebet Main) which intersected high-grade gold mineralization containing 9.74 gpt AuEq (9.65 gpt Au and 3.62 gpt Ag) over 4.00 meters*, and 2.04 gpt AuEq (1.98 gpt Au and 2.38 gpt Ag) over 7.29 meters*; hole GD-22-92 collared from W of NE Fault Pad (780 meters step-out to the South from Surebet Main) which intersected high-grade gold mineralization containing 1.31 gpt AuEq (1.21 gpt Au and 3.31 gpt Ag) over 23.00 meters*, including 2.57 gpt AuEq (2.52 gpt Ag and 1.16 gpt Ag) over 6.00 meters*; hole GD-22-95 collared from W of NE Fault Pad (780 meters step-out to the South from Surebet Main) which intersected high-grade gold mineralization containing 1.97 gpt AuEq (1.86 gpt Au and 3.45 gpt Ag) over 12.00 meters*, including 3.37 gpt AuEq (3.25 gpt Ag and 4.29 gpt Ag) over 6.00 meters*, and 1.61 gpt AuEq (1.54 gpt Au and 1.51 gpt Ag) over 12.00 meters*; hole GD-22-96 collared from Pad 13 (650 meters step-out to the West from Surebet Main) which intersected high-grade gold mineralization containing 4.98 gpt AuEq (4.92 gpt Au and 1.90 gpt Ag) over 3.70 meters*, and 1.24 gpt AuEq (1.08 gpt Au and 6.14 gpt Ag) over 15.00 meters*; hole GD-22-102 collared from W of NE Fault Pad (780 meters step-out to the South from Surebet Main) which intersected high-grade gold mineralization containing 1.06 gpt AuEq (1.00 gpt Au and 1.17 gpt Ag) over 16.00 meters*; and hole GD-22-99 collared from W of NE Fault Pad (780 meters step-out to the South from Surebet Main) which intersected high-grade gold mineralization containing 3.15 gpt AuEq (3.04 gpt Au and 2.72 gpt Ag) over 5.00 meters*; hole GD-22-93 collared from Pad 5 (1.2 kilometers step-out to the West from Surebet Main) which intersected high-grade gold mineralization containing 1.19 gpt AuEq (0.94 gpt Au and 6.40 gpt Ag) over 13.00 meters*.
NEW GOLDSWARM DISCOVERY - DRILL READY
The Company first target generation/exploration in the Surebet area was focussed on following up on a 57 ppb Au government silt sample (96 percentile) located down stream in one of the main creeks that drains from the Surebet Discovery (see maps below). Two weeks of prospecting and sampling with a 5 men crew, silt and rock geochemistry and a detailed study of lidar and orthophoto imagery eventually led to the Surebet Discovery. Similarly, the steeply dipping high-grade Goldswarm quartz breccia zone located 4 km along strike to the North of the Surebet Zone was discovered based on a government stream sediment sample that assayed 180 ppb Au (98 percentile). The high-grade Goldswarm discovery outcrop is situated in the sediments at an elevation of approximately 1560 meters, only 130 meters lower than the outcropping Surebet Zone in the sediments at North Rubble (1690 meters). During the 2022 field season Goliath's crew together with an independent geologist (Ph.D., P.Geo.) has confirmed compelling evidence that Goldswarm is directly related to Surebet and is believed to be part of the same extensive mineralizing gold system, including similar geologic setting, mineralization, textures, structures, and geochemistry. Goldswarm extends for 450 meters by 150 meters and is characterized by a series of high-grade quartz veins, stockwork and breccia domain that are variably mineralized with pyrite, chalcopyrite and galena hosted in a series of sedimentary units consisting of interlayered mudstone, siltstone, and sandstone similar to those found to host Surebet. The main mineralized horizon consists of a brecciated, partially sheared quartz vein that is steeply dipping 80 to 90 degrees to the West-Southwest. Channel samples assayed up to 29.70 gpt Au over 0.55 meters and 25.1 gpt Au over 0.40 meters and grab samples assayed up to up to 54.3 gpt, 47.5 gpt Au, 26.5 gpt Au and 24.5 gpt. Goliath plans to drill test the high-grade Goldswarm discovery from 6 drill pads with a maiden program in 2023 (see Maps 6. & 7. below).
DISTRICT SCALE WORLD CLASS GEOLOGY 100 % CONTROLLED 56 KM OF THE RED LINE
The Company is also planning on following-up on serval other new high-grade discoveries on its 100% controlled Golddigger Property focused on generating drill targets, including Jackpot (42 gpt Au over 1 meter channel sample), Payday (3 oz/t Au grab sample), Mastodon (11 gpt Au grab sample), Elkhorn (5.48 gpt Au grab sample) and Surething (5160 ppb Ag from BLEG), and a number of unexplored showings located on the newly acquired grounds covering 56 kilometers of the Red Line. The 2023 work is focussed on generating additional drill targets designed to expand the known parameters of both the Surebet discovery that remains open and multiple other newly discovered high-grade gold outcrops recently exposed due to snowpack and glacial abetment (see Map 8. below).
About Goliath Resources Limited
Goliath Resources Limited is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia and Abitibi Greenstone Belt of Quebec. All of its projects are in world class geological settings and geopolitical safe jurisdictions amenable to mining in Canada.
Contact:
Goliath Resources Limited
Mr. Roger Rosmus
Founder and CEO
Tel: +1-416-488-2887
E: roger@goliathresources.com
WEB: www.goliathresourcesltd.com
The forward-looking information contained in this release is made as of the date hereof and Goliath is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein. This announcement does not constitute an offer, invitation, or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal. The securities referred to herein have not been and will not be will not be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act'), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
GOLIATH RESOURCES LIMITED 
